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UDR, Inc. Announces First Quarter 2026 Results and Updates Full-Year 2026 Guidance Ranges

UDR
  • UDR, Inc. reported first quarter 2026 net income per diluted share of $0.57, FFO per diluted share of $0.63, & FFOA per diluted share of $0.62, all beating prior year results & aligning with guidance.
  • Same-store revenue grew 0.9% year-over-year, while same-store expense increased 4.4%, resulting in a 0.8% decline in same-store NOI.
  • The company sold four apartment communities containing 1,159 homes for $362.0 million in gross proceeds & received $138.9 million from the repayment of two debt & preferred equity investments.
  • During the quarter & subsequent to quarter-end, UDR repurchased approximately 4.2 million shares for $150.0 million, bringing total repurchases since September 2025 to approximately $268.0 million.
  • Subsequent to quarter-end, the company acquired a 232-apartment community in Portland, OR, & announced the commencement of monthly common stock dividends starting in July 2026.
  • Full-year 2026 net income per diluted share guidance was raised to a range of $0.91 to $1.01 with a midpoint of $0.96, while full-year FFO per diluted share guidance was raised to $2.48 to $2.58 with a midpoint of $2.53.
  • Total revenue for the quarter reached $425.8 million, driven by growth in same-store & acquired communities, partially offset by declines from property dispositions.
  • Weighted average physical occupancy was 96.6%, with same-store occupancy declining 0.6% year-over-year.
  • Total indebtedness stood at $5.7 billion as of March 31, 2026, with a weighted average interest rate of 3.4% & approximately $1.1 billion in liquidity available.
  • The Board declared a regular quarterly dividend of $0.435 per share payable April 30, 2026, & appointed Ellen M. Goitia to the Board while two directors will not stand for re-election.
  • UDR was named a Top Workplace by USA Today for the second consecutive year.